A new, evolutionary explanation of markets and investor behavior
Half of all Americans have money in the stock market, yet economists can't agree on whether investors and markets are rational and efficient, as modern financial theory assumes, or irrational and inefficient, as behavioral economists believe--and as financial bubbles, crashes, and crises suggest. This is one of the biggest debates in economics and the value or futility of investment management and financial regulation hang on the outcome. In this groundbreaking book, Andrew Lo cuts through this debate with a new framework, the Adaptive Markets Hypothesis, in which rationality and irrationality coexist.
Drawing on psychology, evolutionary biology, neuroscience, artificial intelligence, and other fields, Adaptive Markets shows that the theory of market efficiency isn't wrong but merely incomplete. When markets are unstable, investors react instinctively, creating inefficiencies for others to exploit. Lo's new paradigm explains how financial evolution shapes behavior and markets at the speed of thought--a fact revealed by swings between stability and crisis, profit and loss, and innovation and regulation.
A fascinating intellectual journey filled with compelling stories, Adaptive Markets starts with the origins of market efficiency and its failures, turns to the foundations of investor behavior, and concludes with practical implications--including how hedge funds have become the Gal pagos Islands of finance, what really happened in the 2008 meltdown, and how we might avoid future crises.
An ambitious new answer to fundamental questions in economics, Adaptive Markets is essential reading for anyone who wants to know how markets really work.
Автор: B. Andreosso-O`Callaghan; J. Bassino; J. Jassaud Название: Changing Economic Environment in Asia ISBN: 0333964373 ISBN-13(EAN): 9780333964378 Издательство: Springer Рейтинг: Цена: 18866.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: Offering a critical reappraisal of the causes of the 1997 Asian crisis and of its impact on the strategies of firms, this book is essential reading for anyone who wants to understand how firms have responded to the changes brought about by the crisis, and what the major structural developments have been in the Asian economies since the late 1990s.
Автор: P. Rao Название: The World Trade Organization and the Environment ISBN: 0333777204 ISBN-13(EAN): 9780333777206 Издательство: Springer Рейтинг: Цена: 20962.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: This book explains the role and limitations of liberalized international trade on the global environment and sustainable development.
Автор: P. Abelson Название: Project Appraisal and Valuation of the Environment ISBN: 0333639162 ISBN-13(EAN): 9780333639160 Издательство: Springer Рейтинг: Цена: 18866.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: This work is a guide to valuing the environment and the implications for public investment and policy. It describes how the environment can be valued and how these valuation concepts can be applied to investment decisions.
Автор: Michael D. Rogers Название: Business and the Environment ISBN: 0333633490 ISBN-13(EAN): 9780333633496 Издательство: Springer Рейтинг: Цена: 23757.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: This volume focuses on the interaction between business, the environment, government regulators and technology, describing the greening of industry in the USA, Japan and the EU and the way in which environmental management is being applied.
Автор: S. Sugiyama Название: Economic History of Energy and Environment ISBN: 4431564195 ISBN-13(EAN): 9784431564195 Издательство: Springer Рейтинг: Цена: 8384.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: This book is the first volume of a monograph series published by the Socio-Economic History Society, Japan. This volume includes four chapters on energy and the environment of Japan, China and Britain and four short book reviews on recent academic works published in Japanese and English.
1. Introduction.- 2. IMO Institutional Structure and Law-Making Process.- 3. Pollution Prevention, Response and Compensation.- 4. Management of Ships' Ballast Water and Biofouling.- 5. Recycling of Ships.- 6. Reduction of Emissions of Greenhouse Gas from Ships.- 7. Implementation of IMO Legal Instruments: International Technical and Financial Cooperation.- 8. Conclusion.
Автор: A. Figueroa Название: Growth, Employment, Inequality, and the Environment ISBN: 1349505692 ISBN-13(EAN): 9781349505692 Издательство: Springer Рейтинг: Цена: 10480.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: Growth, Employment, Inequality, and the Environment deals with the fundamental economic problems of our time: employment, inequality, the environment, and quality of life. Second, he considers the epistemological problem of the role of theory in scientific knowledge.
Автор: S. Sugiyama Название: Economic History of Energy and Environment ISBN: 4431555064 ISBN-13(EAN): 9784431555063 Издательство: Springer Рейтинг: Цена: 11179.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: This book is the first volume of a monograph series published by the Socio-Economic History Society, Japan. This volume includes four chapters on energy and the environment of Japan, China and Britain and four short book reviews on recent academic works published in Japanese and English.
Автор: Sudhakar Yedla Название: Urban Transportation and the Environment ISBN: 8132223128 ISBN-13(EAN): 9788132223122 Издательство: Springer Рейтинг: Цена: 11878.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: The book deals with urban transportation planning in light of environmental sustainability and social equity.
Автор: Srinivasan Sunderasan Название: Enabling Environment ISBN: 8132217322 ISBN-13(EAN): 9788132217329 Издательство: Springer Рейтинг: Цена: 13974.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: Enabling Environment is as real as it gets. The global commons are jointly owned and their inhabitants are jointly obligated to ensure their preservation. In the face of protracted negotiations, convoluted documentation, discord, and incessant bickering among scientists, activists, pressure groups of various hues, politicians and negotiators, very often the people on the ground are ignored or taken for granted. In the meantime, life meanders along. It is these ‘everyday individuals’ who make consumption-related choices on their lifestyles, travel or on preferring certain products or services over others. Enabling Environment puts the individual front and center. Ecosystem services need to be recognized, appropriately priced and the costs allocated to the agents concerned. Enabling Environment is about defining economic and non-economic incentive structures and utilizing them to arrive at pro-environmental outcomes. This collection of articles illustrates the use of existing social, economic and regulatory structures, and the financial architecture and instruments, suitably modified or extended, to help internalize the environmental externality.
ООО "Логосфера " Тел:+7(495) 980-12-10 www.logobook.ru
